INCOME AND MINING TAXES (Tables)

12 Months Ended

Dec. 31, 2025

INCOME AND MINING TAXES

Schedule of components of income and mining tax expense

	Year Ended December 31,
	2025		2024
Current income and mining taxes	$	2,080,292	$	712,129
Deferred income and mining taxes:
Origination and reversal of temporary differences		162,158		213,845
Total income and mining taxes expense	$	2,242,450	$	925,974

Schedule of effective income and mining tax reconciliation

	Year Ended December 31,
	2025			2024
Combined federal and composite provincial tax rates		26	%		26	%
Expected income tax expense at statutory income tax rate	$	1,743,017		$	733,605
Increase (decrease) in income and mining taxes resulting from:
Mining taxes		569,702			221,461
Impact of foreign tax rates and change in future tax rates		(17,147)			12,656
Permanent differences		(2,552)			(68,458)
Impact of foreign exchange on deferred income tax balances		(40,977)			35,341
Other		(9,593)			(8,631)
Total income and mining taxes expense	$	2,242,450		$	925,974

Schedule of Components of Net Deferred Income Assets

	As at		As at
	December 31, 2025		December 31, 2024
Mining properties	$	8,001	$	12,023
Mining taxes		6,416		5,086
Reclamation provisions and other liabilities		3,404		12,089
Total deferred income tax assets	$	17,821	$	29,198

Schedule and continuity of components of deferred income and mining tax liabilities

	As at		As at
	December 31, 2025		December 31, 2024
Mining properties	$	6,125,556	$	5,850,988
Mining taxes		(449,175)		(423,505)
Reclamation provisions and other liabilities		(303,368)		(265,234)
Total deferred income and mining tax liabilities	$	5,373,013	$	5,162,249

Changes in net deferred tax assets and liabilities for the years ended December 31, 2025 and 2024 are as follows:

	As at		As at
	December 31, 2025		December 31, 2024
Net deferred income and mining tax liabilities - beginning of year	$	5,133,051	$	4,919,475
Income and mining tax impact recognized in net income		162,158		213,845
Income tax impact recognized in other comprehensive income and equity		59,983		(269)
Net deferred income and mining tax liabilities - end of year	$	5,355,192	$	5,133,051

Schedule of deductible temporary differences and unused tax losses in respect of which a deferred tax asset has not been recognized

	As at		As at
	December 31, 2025		December 31, 2024
Other deductible temporary differences	$	1,569,035	$	1,262,999